Circle expands its business adding token trading marketplace Poloniex to its assets

26 February 2018

Circle, a Boston-based company offering peer-to-peer payment services powered by blockchain technology, announced the acquisition of Poloniex, a Delaware-based cryptocurrency exchange for an undisclosed amount. The official statement described Poloniex as one of the largest global markets for trading tokens and digital assets.

Sean Neville and Jeremy Allaire provided comments in their blogs saying that they are proud to announce the expansion of Circle made to comply with its commitments to bring a new vision to global financial market through the takeover of Poloniex.

Financial terms of the deal were not reported in the blog posts and announcements, but Reuters believes the transaction will contribute to Circle’s overall efforts in the blockchain industry. Apart from providing P2P payments based on blockchain, Circle remains one of the largest over-the-counter trading platforms for Bitcoin.

Meantime, in a Twitter post, Robert Hackett, a staff writer for Fortune, said that Circle could have paid about $400 for the business to Poloniex. Circle, in turn, noted in the statement that from now on Poloniex will be addressing a key aspect of the product formation for the company, providing a marketplace for open global token trading.